The Athens Stock Exchange started April with a significant increase after the correction recorded in March, which was facilitated by a recovery in banking shares and some buying movements in blue chips and, mainly, in the energy sector, including due to a jump in prices. oils. The new week began with a negative surprise of more than 1 million bpd of OPEC cuts in oil production, which helps not only to control inflation, but also to restore reserves, as analysts say, except, of course, for the fossil fuel sector.

In this cautious international environment, A.A. managed, however, to outperform European markets, although turnover was sluggish. It is also important that, despite the retreat in March, A.A. continues to be in the top three in terms of income in the world since the beginning of 2023.

The overall index closed up 1.29% to 1,068.24 points, with a turnover of 65.78 million euros. The Large Cap Index advanced 1.41% to 2584.76 points, while the Mid Cap Index closed at 1546.3, up 0.56%.

Among the non-banking blue chips, EYDAP rose 3.69%, ELVALHalcor up +2.78%, Motor Oil up +2.36% and HELLENiQ ENERGY up +2.12%, while PPC, Mytilineos added more than 1%. , PPA, Quest and Sarantis. On the other hand, TERNA Energy and Aegean ended down more than 1%.

A.A. continues to be in the top three in terms of income in the world since the beginning of 2023.

The banking index rose 2.93% to 782.07 points, with Piraeus Bank closing +5.93%, Alfa-Bank +4.53%, National Bank +1.57% and Eurobank +1. 40%.

The correction we saw in the previous period was necessary for the health of the market, as noted by Ilias Zacharakis of Fast Finance. Now the General Index has built a significant weekly defense at 998 points, and after breaking through 1060 points, if there is a buy signal, it can test 1095 points.

Of course, as he points out, there are 30 rallies left before the election, so 1000 and 1150 units are two big levels that the market is unlikely to break until new political data comes out.

In any case, he points out, moderate optimism is being cultivated for a longer rally, as momentum suffocates during bear sessions and accelerates higher in a bull market.

As Mr. Zacharakis concludes, we have left behind the market-correcting March and are now entering the last leg of the road to the election. The only thing you can be sure of is that the foreign institutionalists don’t seem to care about the joint government either, and they probably saw the correction in the last period as an opportunity for positions. However, this and next week we will see a slowdown and several holidays due to the Catholic and Orthodox Easter.